Alleyn Club News
Minutes of the 2015 AGM ..........................................................................................................
Held on Friday 30 October 2015 at 6.30pm in the Board Room, Dulwich College. Present
In response to a question from I F Hay Davison CBE concerning the level of transfers from the Life Fund in the light of generally increasing life expectancy of members, the Hon Treasurer stated that transfers remained at 2% per annum but were constantly under review. R F N Clark noted the presence of high-yielding stocks in the portfolio and their potential for risk. P G R Lyon, chairman of the Club Trustees, said that he and his fellow trustees were mindful of the desirability of obtaining as good a return as possible for the Club’s money while at the same time exercising prudence. They kept a close eye on matters and were content with their current strategy as the fund had consistently out- performed the market. J R Walters asked whether the sporting clubs were agitating for an increase in grants. In response, the President indicated that he would say more about grants under item 3. The President thanked the Hon Treasurer for his meticulous work on behalf of the Club. Adoption of the accounts was proposed by J R Walters and seconded by J B StL Franklin. 3. The President proposed, and there was unanimous agreement, that the following grants for 2016, having been published in the Yearbook, should be approved en bloc: • £1,000 to the College for Alleyn Club Prizes • £1,000 to the Master’s Fund for sponsorships (through the OA Endowment Fund) • £500 to the OA Clubhouse Fund • £50 to each of the Old Alleynian Sporting Clubs if required by these Clubs • £1,000 to the Old Alleynian Boat Club • £2,000 to Alleynian Sailing Society to cover charter fee for boys’ sail training week Other grants: The President stated that requests for grants from sporting and social clubs and societies would be considered by the committee only if accompanied by properly presented accounts. 4. The President proposed that the election of Officers and Committee should be taken en bloc
I W Warburton (57-65) MA MSc President (in the chair)
P G R Lyon (52-60) MA Vice President
J D P Kendall MA FCCA (59-67) Hon Treasurer
C W Field JP MA ARAM LRAM ARCM (51-59) Secretary
and 64 members
Apologies
Lt Gen Sir Peter Duffell KCB CBE MC, D A Emms OBE, J M Morrison, Dr C H R Niven OBE, P S Rees, N R Robinson, B F Shilstone and Dr B G Smith CBE 1. Approval of the Minutes of the Annual General Meeting held on 31 October 2014, which had been printed in the Yearbook and were available at the meeting, was proposed by T J Birse, seconded by the Ven P R Turner CB DL and carried unanimously. The Minutes were duly signed as a correct record. 2. The Accounts for 2014 were issued to all present. Referring to the Income and Expenditure account, the Hon Treasurer drew attention to the welcome increases in dividend income and untaxed interest, though cautioning that the latter would be subject to a tax demand in due course; he highlighted the considerable reduction in the cost of producing the Yearbook and the one-off grants to the OA Golf Society, the Ypres Battlefield Tour (during which a plaque donated by Brigadier E J W Walker OBE commemorating OAs who had fallen in WWI was dedicated in St George’s Church, Ypres) and a grant to the College Archive to support work on WWI archival materials being undertaken by a GAP Year OA. Turning to the Balance Sheet, he noted the increase in investment costs and the increase in the market value of the club investments. On the Capital Account, the overall yield had been healthy at 5.2% gross (4.7% net) but capital gains tax had been significantly higher than in the previous year when losses were incurred and set against tax.
President P G R Lyon MA (52-60) Vice President Sir Colin Rimer MA LLB (54-62) Hon Asst Secretaries N R Robinson (62-71) and T J Walsh BA
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